For proof that the U.S. stock market is in trouble, look no further than the presidential candidates running for a place in the 2016 election, says Marc Faber, editor and publisher of the Gloom, Boom & Doom Report.
Faber, who has earned the nickname "Dr. Doom" from his longtime bearish stance on U.S. stocks, said most candidates are "relatively questionable" in integrity and quality.
"Going into the year end and the next year, I only have to look at the presidential candidates and then I know I have to be bearish," Faber said Tuesday on CNBC's "Trading Nation." "It's a pity that a country like the U.S., with so many highly intelligent and educated people, can only produce the kind of candidates we have."
A September national poll from Monmouth University shows Hillary Clinton as the front runner for the 2016 Democratic nomination by a wide stretch, followed by Joe Biden and Bernie Sanders. Leading the polls for the Republican nomination is Donald Trump, followed by Ben Carson and Jeb Bush.
While Faber admitted that he is not a close follower of American politics, he said Republican candidate Ted Cruz would be the best choice for U.S. markets to prosper.
"He's a relatively conservative person and that may be good for stocks," Faber said.
This is the latest in a series of somewhat unique reasons that Faber has provided for his long-held bearish stance on the U.S. stock market. For the past couple years, Faber has consistently predicted a stock market crash and U.S. recession, which have yet to materialize.
Presidential election aside, Faber said there are a lot more concerns facing the market, including an economic slowdown in China, falling currencies and trouble in the bond market as the Fed contemplates raising interest rates.
Faber said that if the stock market continues to drop further, the Federal Reserve may have to implement another round of quantitative easing.
Yet while Faber says stocks will be lower by the end of the year, he believes the market's recent bounce could continue.
"I think the market may rebound further, it was very oversold a week ago," he said.
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